Healthcare EDI Market Analysis, Size, Growth and Demand, 2023

Healthcare electronic data interchange MarketHealthcare electronic data interchange (EDI) facilitates the exchange of healthcare data which is processed using computer software in a standardized format. Healthcare industry processes a large number of documents such as medical records of patients, healthcare claims, and reimbursement records. Healthcare EDI helps in the exchange of this information among healthcare institutions, healthcare professionals, and patients.

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The use of healthcare EDI increases accuracy, improves productivity, helps in faster identification of errors, consumes less time, secures exchange of information and leads to ease of work for the healthcare providers, healthcare payers, and pharmacies. Healthcare EDI finds application in insurance and reimbursement data management, clinical trials and regulatory data management, and medical and dental patient database management. They key players such as Dell Technologies Inc. are prompting the growth of the global healthcare EDI market. In February 2017, Dell Technologies Inc. quickened the digital transformation in healthcare EDI market with the introduction of cloud integration solution for healthcare EDI.

Global healthcare EDI market is expected to grow significantly during the forecast period. Some of the major factors driving growth of the market include expanding base of patient due to the increasing prevalence of chronic diseases, rising need to curtail healthcare costs, and government support for healthcare EDI.

According to the World Health Organization (WHO), chronic disease is the leading cause of mortality globally, comprising 60% of all deaths. Also, approximately 17.7 million people died from cardiovascular diseases in 2015, representing 31% of all global deaths. Of these deaths, an approximate of 7.4 million deaths were due to coronary heart disease and 6.7 million were due to stroke. WHO also reported that globally 8.8 million people died from cancer which is 1 in 6 of all global deaths in 2015. With the rise in these chronic diseases, the volume of patient is also increasing. Moreover, these large number of deaths also prompts the end users to avail healthcare EDI products for different reimbursements claims.

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Some of the key players in the global healthcare EDI market are GE Healthcare, Cognizant Technology Corporation, Cerner Corporation, Axway Software SA, Dell Technologies Inc., Synnex Corporation, McKesson Corporation, Allscripts Healthcare Solutions Inc., SSI Group, LLC, Comarch SA, Optum Inc., and Quality Systems Inc.

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Surgical Navigation System Market – New Business Opportunities & Investment Research Report, 2023

Surgical Navigation System MarketSurgical navigation system, also known as computer assisted surgery, is a revolutionized surgical procedure. It utilizes medical devices with navigation system on it to track the patient’s body at the diseased position, and provides a 3D image that assists surgeons to perform high-precision minimal invasive surgeries. This innovative and technologically advanced procedure has led the growth of global surgical navigation system market. As per the World Health Organization (WHO), the global volume of surgeries in  2012 ranged around 266.2–359.5 million and is expected to increase over the years. With the rise in surgical rate and advancement in technology, the demand of surgical navigation system is growing and is expected to witness a gradual increase during the forecast period (2017-2023).

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The global surgical navigation system market is segmented on the basis of application, technology and end user. On the basis of application, the market is segmented into neuro navigation system, ENT navigation system, ortho navigation system, spinal navigation system, dental navigation system and cardiac navigation system. Among the varied application segments, ENT navigation system has been observed to be the largest contributor and is expected to remain so during the forecast period, due to the increasing prevalence of ENT related disorders and associated surgical procedures. Based on technology, the global surgical navigation system market is segmented into optical navigation system, electromagnetic navigation system, hybrid navigation system, fluoroscopy based navigation system, CT based navigation system and other navigation systems. Optical navigation system is anticipated to be the fastest growing technology in the global market due to its preference over electromagnetic navigation system. Optical navigation system is precise, and its reduced exposure to radiation is expected to drive it to have highest growth during the forecast period.

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The global surgical navigation system market is a technology driven market and with the advancements in the field of navigation system and medical devices, the global market is expected to grow significantly during the forecast period. The other major driving force behind this growth are the increase in prevalence of chronic diseases such as neurological disorders, orthopedic disorders; the initiatives by government organization to provide support to research and development (R&D) and regulatory approvals. Further, the rise in ENT related disorders such as, chronic sinusitis that demand surgical interventions will drive the growth of the market.

The other key players in the global surgical navigation system market are Medtronic PLC, Stryker Corporation, Brainlab AG, B. Braun Melsungen AG, OrthAlign, Inc., Scopis GmbH, Fiagon GmbH, Zimmer Biomet Holdings, Inc., and Siemens AG.

Advanced Visualization Industry Outlook, Growth Prospects and Key Opportunities

Advanced Visualization MarketThe global advanced visualization market is likely to grow from $1.8 billion in 2016 to $3.8 billion by 2023. Technological advancements, increasing demand for efficient and early diagnosis of diseases, and increasing prevalence of chronic diseases have been driving the growth of the global advanced visualization market. The market is further expected to gain revenue due to increasing geriatric population and incorporation of advanced visualization solutions in mobile devices. Integration of picture archiving and communication system (PACS) and advanced visualization solutions along with the rising demand from developing nations would create ample opportunities for the global advanced visualization vendors.

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North America has been the largest market for advanced visualization, with the U.S. being the larger contributor to the regional market as compared to Canada. The key factor driving the North American advanced visualization market are technological advancements, increasing healthcare expenditure, growing geriatric population, improved healthcare infrastructure and growing prevalence of chronic diseases. According to the World Health Organization, approximately 324,000 new cases of lung cancer were diagnosed in North America in 2012, and the number is estimated to reach approximately 541,000 by 2030. The emerging economies in Asia-Pacific, especially China and India, are expected to grow tremendously in future, which is expected to bring the Asia-Pacific market approximately equal to the European market by 2023.

Key companies in the advanced visualization market are collaborating to offer better advanced visualization solutions. In November 2016, TeraRecon, released an advanced integration between iNtuition with Agfa HealthCare’s Enterprise Imaging 8.1. The combined solution provides single user interface for accessing 2D and advanced 3D applications, bi-directional communication between Agfa and TeraRecon viewers, and multi-series data loading for 3D analysis.

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Some of the other key players in the market include General Electric Company, Canon, Inc., Siemens AG, Koninklijke Philips N.V, Fujifilm Holdings Corporation, Carestream Health, Agfa-Gevaert N.V., and Ziosoft.

Biosimulation Technology Market – Global Industry Insights, Analysis and Growth, 2023

Biosimulation Technology Market

The global biosimulation market is growing significantly due to technological advancements and increasing research and development investment in the pharmaceutical and biotechnology industries. Low success rate of drug approval and emerging software applications of biosimulation technology are creating ample opportunities for the global biosimulation technology market to grow at a significant rate in the forecasted period.The advanced research and development facilities and new product developments by the companies are propelling the demand for cost effective biosimulation software.

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In biosimulation industry, there is a trend of collaboration and partnership of universities and research institutes with suppliers. Drug discovery and development process is stringent, time consuming, and expensive process. In addition, the success rate of drug approval is very low. According to Tufts Centre for the Study of Drug Development, an academic, non-profit research group at Tufts University, in the U.S., out of 1,000 compounds tested only one makes it to human clinical trials, and out of five such compounds only one gets approved. Biosimulation technology overcomes these limitations by simulating biological systems through software models and increasing predictability in early stages of drug development; hence, saving time and money in drug development process.

Biosimulation technology market can be categorized on the basis of applications, end-users, and product types. Based on applications, the biosimulation technology market can be categorized as drug development, drug discovery, and others. Drug development segment includes preclinical testing and clinical trials; whereas, drug discovery segment includes target identification and validation, and lead identification and optimization. Drug development segment leads the biosimulation technology market. Based on end-users, biosimulation technology market can be categorized as pharmaceutical and biotechnology companies, academic institutes and research laboratories, contract research organizations, and others. Pharmaceutical and biotechnology companies lead the biosimulation technology market.

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Some of the major players operating in the global biosimulation technology market Dassault Systemes SA, Simulation Plus Inc., Certara USA, Inc., Advanced Chemistry Development, Inc., In Silico Biosciences, Inc., Chemical Computing Group, Inc., Physiomics PLC., Rhenovia Pharma Ltd., Genedata AG, Entelos Holding Corporation, Leadscope, Inc., and Schrodinger Inc. among others.

Influenza Vaccine Market – Global Industry Size, Share and Growth, 2023

Influenza Vaccine MarketThe global influenza vaccine market is growing significantly due increasing awareness about the pandemic influenza viruses and increasing government involvement for vaccination against influenza viruses. Massive unexplored influenza vaccine markets in the emerging economies are creating ample opportunities for the global influenza vaccine market to grow at a significant rate in the forecasted period. The advanced research and development facilities and new vaccine developments by the companies are propelling the demand for safe and efficacious influenza vaccine. Influenza (flu) is a respiratory disease caused by mainly two types of influenza viruses namely, influenza A and B viruses. Influenza A viruses are of two types based on the proteins on the surface of virus: hem agglutinin (H) and neuraminidase (N).

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In global influenza vaccine industry, there is a trend of development of intranasal vaccine due to the ease of self-administration. According to Centers for Disease Control and Prevention (CDC),in 2009, approximately 151,700 to 575,400 people died due to H1N1 influenza pandemic or swine flu across the globe. In addition, the organization also reported that most deaths due to 2009 flu pandemic occurred in Africa and Southeast Asia region. Several vaccines have been developed to prevent pandemic and seasonal influenza viruses using recombinant DNA technology and extensive researches are going on to develop efficient influenza vaccines using cell culture technology. Various governmental and non-governmental organizations have been actively involved in promoting and monitoring vaccination programs aimed at immunising people against seasonal influenza viruses. This in turn fuels the growth of global influenza vaccine market.

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Some of the major players operating in the global influenza vaccine market are GlaxoSmithKline,Sanofi Pasteur, Inc., ID Biomedical Corporation, CSL Limited, Novartis, Protein Sciences Corporaton, MedImmune, LLC, Sinovac Biotech, Serum Institute of India, and Hualun Biologicalsamong others.

Medical Supplies Market – Global Market Insights, Size and Growth, 2023

Medical Supplies Market

Medical supplies are the medical instrument and device supplies, that are used in various medical centers, medical institutions and hospitals. Various medical instruments and devices include thermometers, glucose meters, blood processing devices, wound care instruments and accessories, and monitoring systems. The demand for the medical supplies is experiencing an increasing trend since the market players are introducing technically advanced medical supplies that can aid medical professionals to handle their patients in a better way. The outpatient facilities and hospitals are adopting strict policies towards infection- prevention for better care of the patient, which is driving the growth of the market.

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Based on application, the global medical supplies market is segmented into urology, ophthalmology, radiology, anesthesia, sterilization, cardiology, wound care and others. Anesthesia was the largest application in 2016 due to increase in the number of surgical procedures performed and rise in respiratory diseases.

Based on type, the global medical supplies market is categorized into sterilization consumables, personal protective equipments (PPE), infusion products, radiology consumables, wound care consumables, diagnostic supplies, inhalation products, dialysis consumables, infection control supplies, intubation and ventilation supplies, hypodermic products, and other supplies. Among different types of medical supplies, dialysis consumable segment is expected to witness the fastest growth during the forecast period (2017-2023) due to increase in renal disease cases, rise in diabetic patients and aging population.

Global medical supplies market is expected to grow during the forecast period due to the growing population, increase in number of hospitals, rise in the frequency of communicable diseases, and aging population. Also, increase in medical conditions such as diabetes and renal disease, rise in surgeries, rise in hospital acquired infections and increase in awareness are driving the growth of the global medical supplies market. The increase in number of hospital acquired infection cases have significant positive impact on the growth of the global medical supplies market. According to the World Health Organization (WHO), every 10 people in developing countries and 7 in developed countries acquire at least one infection from hospital, of every 100-hospitalized patient, at any given point of time.

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Global medical supplies market is highly competitive and major players are acquiring smaller players to increase their market share. The key players in the global market are Boston Scientific, Medtronic plc, Baxter International Inc., Johnson & Johnson. Other players in this market are Cardinal Health Inc., Halyard Health Inc., Thermo Fisher Scientific, B. Braun, Becton, Dickinson and Company, and 3M Company.

Image Guided Surgery Devices Industry Outlook, Growth Prospects and Key Opportunities

Image Guided Surgery Devices Market AnalysisThe global image guided surgery devices market is likely to grow significantly during the forecast period, due to increasing prevalence of chronic diseases, and cancer, rising geriatric population and increasing cases of neurological disorders. In addition to these factors, rising healthcare expenditure and technological advancements in medical imaging also contributes to the growth of the overall market. High cost of imaging techniques and stringent regulatory requirements are some of the key factors restraining the global market growth.

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As per the findings of the research, the CT is the largest segment, based on device type, in the global image guided surgery devices market. CT is a non-invasive, accurate and fast diagnostic imaging test. It uses x-ray equipment to produce 3D images by taking series of images from different angles. Each image created during the CT procedure shows the bones, tissues and organs in a thin “slice” of the body.

It provides cross-sectional images generated during the CT scan and can be reformatted in multiple planes. It is used for diagnosing skeletal abnormalities, blood clots, blood vessel aneurysm and cancer. Neurology has been the largest application area for image guided surgery devices, followed by orthopedic surgery, ENT surgery, oncology surgery and others.

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Some of the key players in the global image guided surgery devices market include Siemens AG, GE Healthcare, Koninklijke Philips N.V., Canon Inc., Hitachi, Ltd., KARL STORZ GmbH & Co. KG., Medtronic, Inc., St. Jude Medical, Inc., Varian Medical Systems, Inc., Smith & Nephew plc, Integra LifeSciences Corporation and Zimmer Holdings, Inc.

 

Smart Pulse Oximeters Market – Global Industry Size, Share and Growth, 2023

Smart Pulse Oximeters MarketSmart pulse oximeters are non-invasive medical devices that are used to measure various health parameters such as pulse rate, heart rate and oxygen saturation level. These devices help in the early detection of various diseases such as sleep problems, respiratory diseases, and cardiac diseases. However, smart pulse oximeters readings may get affected by low blood pressure, cold fingers, nail polish, and artificial nails. The smart pulse oximeters market is expected to have a considerable growth during the forecast period. According to the World Health Organization (WHO), around 3 million people died of chronic obstructive pulmonary disease (COPD), in 2015. It further reported that COPD is likely to increase in coming years due to higher smoking prevalence and aging populations in many countries. Therefore, the increasing prevalence of the respiratory diseases is expected to drive the growth of the global smart pulse oximeters market.

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Based on product type, the smart pulse oximeter market is segmented into fingertip pulse oximeters, hand-held pulse oximeters, wrist-worn pulse oximeters, and pediatric pulse oximeters. Fingertip pulse oximeters held the largest share of the smart pulse oximeters market, in 2016, and is expected to maintain its position during the forecast period, mainly due to its light weight, ease of use, and rising prevalence of respiratory diseases. Moreover, WHO safety pulse oximetry project for the improvement in the health of the people in middle-income countries is also expected to further boost the growth of the smart pulse oximeters market.

Smart pulse oximeters market is expected to grow significantly during the forecast period. Some of the major factors driving growth of the global market are growing geriatric population, technological advancements, rise in prevalence of respiratory diseases, and growing demand for portable monitoring devices.

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According to the United Nations Department of Economic and Social Affairs (UNDESA) report the number of people aged 60 years or over is projected to grow by 56%, globally, i.e. from 901 million in 2015 to 1.4 billion by 2030. Also, the global aging population is projected to reach nearly 2.1 billion, by 2050. Thus, with the rise in aging population, the use of smart pulse oximeters has been increasing for early detection of diseases.

Some of the key players in the global Smart pulse oximeters market are Contec Medical Systems Co., Ltd., General Electric Company, Halma PLC, Koninklijke Philips N.V., Masimo Corporation, Medtronic PLC, Nonin Medical, Inc., Omron Corporation, Smiths Group PLC, and Technocare Medisystems.

Surgical Simulation Market – Global Industry Analysis, Size, Growth, 2023

Surgical Simulation MarketSurgical simulation is a technology that is developed in order to stimulate surgical procedures for the purpose of training healthcare professionals, without using any subject such as a human body or animal. The key concept of surgical simulator is based on the video games that were developed in 1980’s, and now it offers advancements such as three-dimensional graphics, motion sensors for realistic movements in order to simulate the real situation. The trainings conducted to teach how to perform surgeries, using these simulators is known as surgical simulation. The global surgical simulation market is growing due an increase in the number of diseases, which has further led to a rise in the requirement of doctors. Doctors need to be trained about surgeries without actually involving a subject. The most common type of surgery that is being explained through this method is laparoscopic surgery, although it has also been used to do a trial run before other kinds of procedures. With public pressure for increased oversight of surgeons in training, prevention of medical errors, reduction in healthcare costs and decreased working hours, current doctors have a very different training experience these days, as compared to the past. Limited working hours have led to a reduced exposure of surgical trainees towards operative procedures and the ability to practice those associated technical skills. Bridging this educational gap has become important, since proficiency based evaluation overtakes the traditional time-based model.  Many now look to simulation as the possible solution for deficits emerging in current surgical training and as a way to improve patient safety and possibly overall costs. Surgical simulation is best suited for two types of skills, namely eye-hand coordination and the ability to perform three dimensional actions.

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The surgical simulation market is divided on the basis of application and end user. On the basis of application, surgical simulation is applied to various surgeries such as laparoscopic, gynecological, cardiovascular, arthroscopic physiotherapy, occupational therapy and others. The cardiovascular surgery accounts for holds the largest share of the market.

Technological innovations in simulators, rising demand for minimally invasive treatments, increasing focus on the safety of patient and increasing healthcare spending are some of the drivers supporting the growth of global surgical simulation market.

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According to the Centers for Disease Control and Prevention (CDC), total national health expenditure in the U.S. was $3.0 trillion in 2014, and per capita national health expenditure was $9,523. According to the U.K. Office for National Statistics (ONS), the U.K.’s total healthcare expenditure was $297.8 billion in 2014.

Major key players in the global surgical simulation market include Laerdal Medical, 3D Systems Inc., Gaumard Scientific, Limbs & Things Ltd., Kyoto Kagaku Co. Ltd, Mentice AB, Simulab Corporation, Surgical Science Sweden AB, Simulaids Inc.

HIV Diagnosis Market Trends, Size, Growth and Future Scope

HIV Diagnosis Market

The global HIV diagnosis market is likely to grow significantly during the forecast period, due to rising prevalence of HIV/AIDS, growing awareness leading to high number of blood donations and blood transfusions, and advantageous features of point of care instruments and kits. In addition, rising healthcare expenditure on HIV and related activities further contributes to the growth of the overall market. High cost of automated HIV diagnosis procedures and lack of skilled professionals are some of the key factors restraining the growth of global HIV diagnosis market.

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As per the findings of the research, based on products, consumables segment is the largest product category in the global HIV diagnosis market. Antibody test has been the largely performed test of the global HIV diagnosis market, followed by viral load, CD4, early infant diagnosis and viral identification. Diagnostic laboratories have been the largest end user of HIV diagnosis, followed by hospitals, research institutes and others.

The healthcare expenditure for the purpose of alleviating the potential epidemic situation of HIV, has increased over the past few years in many low and middle income as well as developing countries. According to the data published by UNAIDS, $19.0 billion was spent on the HIV and AIDS related activities in low- and middle-income countries in 2015, of which 57% came from domestic budgets of the governments of these countries. Considering the increasing incidence of HIV, the UNAIDS estimated that approximately $26.2 billion will be required to respond to the epidemic of HIV infection expected in 2020 and around $23.9 billion will be required for the same, in 2030. The variation in healthcare spending across regions is thought to be related to the relative burden of the disease in that region, which in case of Sub-Saharan Africa is significantly high. The overall healthcare spending on HIV and related activities has increased over the years, which in turn is expected to drive the growth of the global HIV diagnosis market.

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Some of the key players in the global HIV diagnosis market include Siemens AG, F. Hoffman La Roche Ltd., Danaher Corporation, Abbott Laboratories, Ltd., Thermo-Fisher Scientific Inc., Merck KGaA, Becton, Dickinson & Company, Alere Inc., Bio-Rad Laboratories and Hologic Inc.